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Hamilton, OntarioLOCATION
Estd 1887Established Year

Master of Finance [M.Fin]

 16 months
 full time
 on campus

Field of Study

Offered by     DeGroote School of Business

$ 18,995 

1st Year

International Student Tution

Check Detailed Fees

Program Description

  • McMaster University offers Master of Finance for a duration of 16 months (4 terms).
  • It is an on-campus program offered on a full-time basis.
  • In this program, students will learn essential skills and knowledge in economics, accounting and statistics.
  • The program Begins in September and students will complete two four-month academic terms, followed by one four-month summer term.
  • It provides an opportunity to seek employment, complete external certifications, or develop language skills.
  • Students will return the following September to complete one final four-month academic term in order to complete the program.
  • In 1st term, students learn about the fundamental tools of economics, statistics, financial accounting and finance that you’ll need as a financial specialist.
  • In 2nd term, students develop their skills and apply them in examining topics in financial theory and derivatives.
  • In 3rd term, students have the opportunity to seek employment and gain valuable work experience within or outside of Canada, develop the language skills needed to succeed in the Canadian finance sector, or work towards completion of designations such as CFA.
  • In 4th term, students build their knowledge through analytical applications in finance. Augment and specialize their training through electives.
  • Students get many summer job opportunities but there is no guarantee of employment during this term.
  • Students will participate in a transition program during the two weeks before classes start.
  • The program includes career development opportunities, financial modelling workshops and a math/statistics review which covers the basic aspects of differential and integral calculus, linear algebra, and statistics and probability.
  • Students will required to complete a career development preparation course. The purpose of this course is to equip students with the necessary tools to aid in your summer and graduate employment search process.
  • The average salary of the prpgram goes up to 47,000 USD.

Program Highlights

Degree Type Offered Master
Duration16 months
Fees$ 39,348 for 16 months
Delivery TypeFull Time
Admission Intake Round 1 (Deadline - Nov 16)
Language Proficiency TOEFL,IELTS,PTE
Offered byDeGroote School of Business
Program Url

Eligibility & Entry Requirement

Academic Eligibility:

  • Students have to complete an honors 4 year bachelor's degree  or equivalent in any discipline from a recognized university.
  • Students hold a minimum B+ average (equivalent to a McMaster GPA of 8.5) from an accredited university.
  • Student must have study one term each of university level calculus, algebra, and statistics.

Indian Student Eligibility:

Indian students are eligible to apply if they meet one of the following eligibility criteria:

  • Completed a 4-year UG degree with first class in a relevant field from a recognized institution.
  • Or, completed a 3-year UG degree in a relevant field from a recognized institution.

Submission of a GMAT score is mandatory with a score of 600 and a GRE score (minimum 300) is recommended to submit the scores for a better chance of admission. 

Along with the minimum eligibility requirements, international students hailing from non-English speaking countries need to prove English proficiency through IELTS/TOEFL/any equivalent test.

Required Document List

Following are the required document:

  • Online application form and fees: Students have to fill the online form and submit the application fees. 
  • CV/Resume: Outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
  • Two Academic or Professional References: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
  • Personal Statement: It should include a brief overview of themselves, strengths, and any work experience and/or education that students have.
  • Transcripts: Students have to submit transcripts from all universities/colleges attended, World Education Services Assessments, and English Language Proficiency test scores.
  • Statement of Intent: Reasons or intentions for pursuing studies in this program, including a description of prior experience.

Application Deadline

Round 1
Nov 16

Round 2
Feb 01

Scores Required

92 / 120

Avg. Score in


6.5 / 9

Avg. Score in


309 / 340

Avg. Score in


60 / 75

Avg. Score in


600 / 800

Avg. Score in


Fees & Funding

Tution & Application Fees

YearYear 1Year 2
Tuition fees$18995$18995
Total fees$19674$19674

Living Costs

HeadAvg Cost Per Year
Room and food (on-campus)$ 9,195
Housing (off-campus)$ 4,860

Scholarship Grants & Financial Aids

NameAmountInternational Students EligibleApplication Deadline
Ontario Graduate Scholarship $10,847 Yes N/A
Ellis R. Ott Scholarship for Applied Statistics and Quality Management Variable Yes 01 Apr, 2020
Collegedunia $150 Scholarship Program $150 Yes N/A
Go Clean Scholarship $3,500 Yes 31 Dec, 2020
BrokerFish International student scholarship $1,000 Yes 21 Dec, 2020
VueVille Future Technology Scholarship $1,000 Yes 30 Sep, 2020
Debesh Kamal Scholarship $1,385 Yes 30 Apr, 2020
JN Tata Endowment Scholarship Variable Yes 09 Mar, 2020
Bharat Petroleum Scholarship 2020 Variable Yes N/A
Paul Foundation scholarships $20,174 Yes N/A
Forktip Women’s- Innovation Scholarship Variable Yes 30 Aug, 2020
(ISC)² Women’s Cybersecurity Scholarships Variable Yes 19 Feb, 2021
FINCAD Women in Finance Scholarship $20,000 Yes N/A
Ontario Graduate Fellowship $8,459 Yes N/A
Aga khan Foundation Scholarships Variable Yes 31 Mar, 2020
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VISA & Work Study


  • Students are required to get a Study Visa to study in Canada.
  • If students are traveling outside Canada will need either an Electronic Travel Authorization (ETA) or a Valid Temporary Resident Visa (TRV) to re-enter Canada.
  • The cost of the study visa is 112 USD and is valid for the length of the student’s study program, plus an extra 90 days.
  • Students need a Social Insurance Number (SIN) to work in Canad and to get the SIN, students will need to bring a passport and study visa.
  • At the time of VISA application, students need to provide various documents:
    • Application form and Study Plan
    • Valid Passport
    • Official Acceptance Letter
    • Financial Evidence

Work Study

Students need a work-Study visa to work in Canada. Full-time international students studying at a Canadian university may seek employment in Canada in 4 situations:

  • on-campus employment
  • co-ops employment
  • working off-campus
  • post-graduation work visa

The McMaster Work Program gives students opportunities to work on campus during the fall/winter terms and over the summer.

  • First-year international students are not eligible for the fall/winter work program but can apply for the summer after their first year and every year beyond.
  • International students with a valid study visa are eligible to participate in McMaster’s work programs.
  • Students can work Part-time at a maximum of 10 hours per week in the fall and winter terms.
  • Students can work Full-time of 35 hours per week and part-time over the summer.

Career and Placement after Course

Possible career oppoertunities are:

  • Portfolio Management
  • Hedging and Risk Management
  • Currency and Derivatives Trading
  • Fixed Income Analysis
  • Equity Research
  • Business Analyst
  • Finance Associate
  • Financial Analyst

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